EC takes Spain to European Court
The European Commission has referred a case involving Spanish
shipyard aid to the European Court of Justice. It follows Spain's
failure to comply with a Commission decision ordering the recovery
of illegal state aid.

IMO
Sub-Committee acts on ERIKA incidentAfter the Erika pollution disaster, it's unlikely
that unilateral EU legislation on tankers can be entirely averted,
particularly with France holding the EU Presidency. Nonetheless,
IMO, the International Maritime Organization, has started to
respond in reaction to the Erika incident

Record
profits for Royal Caribbean"We are pleased to report record profits
again this quarter," said Richard D. Fain, chairman and
chief executive officer of Royal Caribbean Cruises Ltd. The company
today reported net income for the second quarter of 2000 of $108
million,

Marad releases study on high speed ferries
The Maritime Administration (MARAD),
has released Phase II of a study, entitled High Speed Ferries
and Coastwise Vessels: Evaluation of Parameters and Markets for
Applications.

Chiles
Offshore to acquire chartered rig
Seacor Smit's 58.3% owned subsidiary Chiles Offshore LLC announced
today that it has entered into an agreement to acquire the ultra-premium
jackup drilling rig TONALA from Perforadora Central S.A. de C.V.
of Mexico City.

Order
for 42 knot commuter ferries
Lighthouse Landings Inc, parent of New York Fast Ferry Services
Inc., has signed a contract with Derecktor Shipyards of Mamaroneck,
N.Y. It covers the construction of a 35 m aluminum high-speed
passenger catamaran that will be the first of four .

OMI
"positioned for record breaking earnings"
President and CEO Craig H. Stevenson, says "OMI is strategically
positioned to reach record breaking earnings with its younger,
cost efficient tankers operating at a very exciting time in the
international tanker market.''.

LR warns tanker owners of Paris MOU crackdownLloyd's Register advises owners of the Paris
MOU's intention to initiate a targeted inspection campaign on
tankers greater than 3,000 gt and 15 years of age during the
period September 1 - November 30